EFCC wrongly declared Lebanese businessman Elie Bitar wanted for CBEX fraud, now facing legal consequences for incorrect public notice.
Nigeria’s Economic and Financial Crimes Commission (EFCC) has landed in legal turmoil after incorrectly declaring Lebanese businessman Elie Bitar wanted for alleged involvement in the CBEX cryptocurrency fraud case.
The anti-graft agency has since retracted its public notice following confirmation of mistaken identity.
The erroneous declaration appeared on EFCC’s official channels Wednesday, listing Bitar among suspects in the $15 million CBEX investment scam.
However, corporate records and international travel documents reviewed by FIJ show Bitar had no connection to CBEX operations and was abroad when the alleged fraud occurred in 2022.
Legal representatives for Bitar have served the EFCC with a N500 million defamation lawsuit, citing reputational damage and emotional distress.
“This reckless declaration endangered our client’s business relationships globally,” stated Barrister Femi Falana in a Lagos High Court filing.
EFCC spokesperson Dele Oyewale acknowledged the error Thursday, attributing it to “incorrect intelligence inputs.”
The commission has since removed Bitar’s details from its wanted list but faces mounting scrutiny over its verification protocols.
Industry analysts note this incident could undermine ongoing CBEX fraud investigations, where 3,700 Nigerian investors reportedly lost funds.
The case highlights growing concerns about due process in EFCC’s high-profile financial crime announcements.
The House Committee on Financial Crimes has summoned EFCC leadership for explanations next week.
Legal experts warn such errors risk compromising legitimate anti-corruption efforts if left unchecked.
